US Treasuries
- Treasuries rallied on signs of an accord to end the US-Iran war that sent oil prices to their lowest level in a month
- 10s closed on Wednesday at 4.47 [Wednesday’s range in 10s: 4.445/4.485]
- 2s closed on Wednesday at 4.03 [Wednesday’s range in 2s: 4.01/4.05]
- 2y – 5y: + 14 bps
- 2y – 10y: + 44 bps
On Deck tomorrow, Thursday, 5/28:
- Economic Releases: Personal Income /Spending; PCE Price Index MoM & YoY; Initial Jobless Claims & Continuing Claims; Durable & Cap Goods; GDP / Personal Consumption & New Home Sales & Building Permits
- Auction: $44 Billion UST 7y Note
Commodities
- Gold decreased to $4,453 an ounce [84% of its recent high of $5,417 an ounce on 1/28/26]
- Silver increased to $74.71 an ounce [65% of its recent high of $116.70 an an ounce on 1/28/26]
Upcoming US Treasury Supply
Intraday Commentary From Jim Bianco
Again, markets are reacting positively (lower crude leading to higher bond and stock prices) because market participants think opening the Strait is what Iran really wants. Market participants think what they want is what everyone wants.
2-day tick chart of WTI crude oil, down 7% in the last 24 hours.
In the News
Successful Farming: Consolidation Trends in the U.S. Nitrogen Fertilizer Industry
Business Insider: OpenAI is building a new kind of ad machine. Early data suggests Google should worry.
Upcoming Economic Releases & Fed Speak
- 5/28/2026 at 08:30am EST: Personal Income / Personal Spending / Real Personal Spending
- 5/28/2026 at 08:30am EST: PCE Price Index MoM and YoY / Core PCE Price Index MoM and YoY
- 5/28/2026 at 08:30am EST: Durable Goods Orders / Durables Ex Transportation
- 5/28/2026 at 08:30am EST: Initial Jobless Claims / Continuing Claims
- 5/28/2026 at 08:30am EST: Cap Goods Orders Nondef Ex Air / Cap Goods Ship Nondef Ex Air
- 5/28/2026 at 08:30am EST: GDP Annualized QoQ / GDP Price Index
- 5/28/2026 at 08:30am EST: Personal Consumption / Core PCE Price Index QoQ
- 5/28/2026 at 08:55am EST: Fed’s Williams Speaks at Reykjavik Economic Conference
- 5/28/2026 at 10:00am EST: New Homes Sales / MoM
- 5/28/2026 at 10:15am EST: Fed’s Musalem Speaks at Reykjavik
- 5/28/2026 at 03:00pm EST: Fed’s Barkin Speaks in Moderated Discussion
- 5/28/2026: Building Permits / MoM
- 5/29/2026: Fed’s Mary Daly Speaks at Reagan National Economic Forum
- 5/29/2026 at 02:00am EST: Fed’s Kashkari Speaks in Moderated Event in South Korea
- 5/29/2026 at 06:50am EST: Fed’s Schmid Speaks in Reykjavik
- 5/29/2026 at 08:30am EST: Advance Goods Trade Balance / Imports MoM SA; Exports MoM SA
- 5/29/2026 at 08:30am EST: Retail Inventories MoM / Wholesale Inventories MoM
- 5/29/2026 at 09:10am EST: Fed’s Supervision Vice Chair Bowman Speaks in Reykjavik
- 5/29/2026 at 09:10am EST: Fed’s Paulson Speaks on Economic Outlook
- 5/29/2026 at 09:45am EST: MNI Chicago PMI / S&P Global US Manufacturing PMI
- 5/29/2026 at 12:40pm EST: Fed’s Daly Speaks at Reagan National Economic Forum
- 5/31/2026 at 08:30am EST: Fed’s Waller Speaks on Stablecoins
- 6/01/2026 at 10:00am EST: ISM Manufacturing / Prices Paid / New Orders / Employment
- 6/01/2026 at 10:00am EST: Construction Spending MoM
- 6/02/2026 at 01:50am EST: Fed’s Kashkari in Panel Discussion
- 6/02/2026 at 08:30am EST: Fed’s Hammack Speaks on Monetary Policy
- 6/02/2026 at 10:00am EST: JOLTS Job Openings & Rate / JOLTS Quits Level & Rate / JOLTS Layoffs Level & Rate
- 6/02/2026 at 10:00am EST: Wards Total Vehicle Sales
- 6/03/2026 at 07:00am EST: MBA Mortgage Applications
- 6/03/2026 at 08:15am EST: ADP Employment Change
- 6/03/2026 at 09:45am EST: S&P Global US Services PMI / Composite PMI
- 6/03/2026 at 10:00am EST: Factory Orders / Ex Trans
- 6/03/2026 at 10:00am EST: ISM Services Index / Prices Paid / New Orders / Employment
- 6/03/2026 at 10:00am EST: Durable Goods Orders / Ex Transportation
- 6/03/2026 at 10:00am EST: Cap Goods Orders Nondef Ex Air / Ship Nondef Ex Air
- 6/03/2026 at 02:00pm EST: Fed Releases Beige Book
Upcoming Earnings Releases for Thursday, May 28, 2026
Noteworthy Before-the-Open Earnings Release
|
Company |
Symbol |
Earnings estimate |
|
Autohome |
ATHM |
$1.58 per share |
|
Burlington Stores |
BURL |
1.79 |
|
CIBC |
CM |
1.79 |
|
Dollar Tree |
DLTR |
1.56 |
|
Esperion Therapeutics |
ESPR |
0.00 |
|
Hormel Foods |
HRL |
0.35 |
|
Kohl’s |
KSS |
-0.19 |
|
Li Auto |
LI |
-1.83 |
|
Photronics |
PLAB |
0.53 |
|
Royal Bank of Canada |
RY |
2.78 |
|
Toronto-Dominion Bank |
TD |
1.65 |
|
|
WB |
0.36 |
Noteworthy After-the-Close Earnings Release
|
Company |
Symbol |
Earnings estimate |
|
Ambarella |
AMBA |
$0.10 per share |
|
American Eagle |
AEO |
0.12 |
|
Asana |
ASAN |
0.08 |
|
Autodesk |
ADSK |
2.84 |
|
Costco |
COST |
4.98 |
|
Dell |
DELL |
2.89 |
|
Elastic |
ESTC |
0.56 |
|
Gap |
GAP |
0.37 |
|
HealthEquity |
HQY |
1.11 |
|
MongoDB |
MDB |
1.19 |
|
NetApp |
NTAP |
2.27 |
|
Okta |
OKTA |
0.85 |
|
PagerDuty |
PD |
0.25 |
|
PayPay Corporation |
PAYP |
0.14 |
|
SentinelOne |
S |
0.02 |
|
UiPath |
PATH |
0.16 |